Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/146855
|
| Title: | 高階管理團隊異質性與績效之關聯性: 台灣中小企業與大企業之比較性研究
Top Management Team Heterogeneity and Firm Performance: A Comparison between Small and Medium-Sized Enterprises and Large Enterprises in Taiwan |
| Authors: | 洪妤萱
Hung, Yu-Hsuan |
| Contributors: | 于卓民
巫立宇
Yu, Chow-Ming
Wu, Lei-Yu
洪妤萱
Hung, Yu-Hsuan |
| Keywords: | 中小企業
高階管理團隊異質性
公司績效
企業風險
外部環境
權力差異
SMEs
TMT heterogeneity
Firm performance
Risk
External environment
Power disparity |
| Date: | 2023 |
| Issue Date: | 2023-09-01 14:46:45 (UTC+8) |
| Abstract: | 高層核心（Upper Echelon, UE）理論關注高階管理團隊（Top Management Team, TMT）的異質性對公司績效之影響，然而現有實證研究的結果分歧。本研究認為實證結果分歧有四個可能原因：首先，過去的UE研究主要集中在大型企業，缺乏針對中小企業的比較研究；其次，先前的UE研究並未全面考慮Dess與Beard（1984）所提出的外部環境構面的調節效果；第三，過去與TMT權力相關的UE實證研究對執行長(Chief Executive Officer, CEO)與其他TMT成員之間在多種構面上的權力差異的相關探討並不詳盡；第四，先前研究關於TMT異質性與公司績效的影響忽略了Bowman的風險-報酬悖論，僅關注TMT異質性對企業報酬方面的影響，而未深入探討對公司績效其他面向（如企業風險）的影響。針對這四個原因，本研究發展出相對應的研究假說，探討大小企業TMT異質性對公司績效（包括企業報酬與企業風險）的影響，並以實證研究來檢視這些假說。
本研究以一般製造業、高科技業及服務業的130家台灣中小企業和148家大型企業為研究對象，運用似不相關回歸(Seemingly Unrelated Regression)模型來檢驗研究假說。本研究進一步分析了產業環境層面（動盪度、豐裕度、複雜度）、公司層面（國際化程度）及個體層面（CEO與其餘TMT成員之間的專業權力差、所有權力差、間接權力差）的不同情境對TMT異質性與企業報酬之間關係的影響。
結果顯示，大型企業的TMT異質性加強了企業報酬，同時降低了企業風險。產業的豐裕度、動盪度和公司的國際化程度對大型企業的TMT異質性與企業報酬之間的關係具有調節效果，與先前研究的結果一致。然而，產業的複雜度和CEO與TMT成員之間的權力差異對大型企業的TMT異質性與企業報酬之間的調節效果並未獲得支持。相比之下，中小企業的TMT異質性對企業報酬的影響僅在特定情境下存在。產業的豐裕度和動盪度削弱了中小企業的TMT異質性與企業報酬之間的關係。不同類型的CEO-TMT成員權力差異對中小企業的TMT異質性與企業報酬之間的調節效果也存在差異。CEO-TMT所有權力差強化了中小企業的TMT異質性與企業報酬關係，然而CEO-TMT專業權力差則弱化了中小企業的TMT異質性與企業報酬關係。
最後，本研究詳細討論了提出研究假說的企業報酬模型中的直接效果和調節效效果，以及企業風險模型中的直接效果。此外，本研究還深入探究了未被提出假說的企業風險模型中的調節效果。綜觀這些研究發現並對其進行理論意涵的探討，本研究對於聚焦大型企業的UE研究以及針對企業風險模型的解釋提供了寶貴貢獻。同時，通過以中小型企業的高階管理團隊為中心的獨特視角，本研究加強了對於UE研究和企業風險模型解釋的理解，為相關領域議題提供了更加全面的見解。
The upper echelon (UE) theory focuses on the impact of top management team (TMT) heterogeneity on firm performance, but there are mixed results of existing empirical research. This study identifies four possible reasons. Firstly, past UE research has primarily concentrated on large enterprises, lacking comparative studies on small and medium-sized enterprises (SMEs). Secondly, prior UE research has not comprehensively considered the moderating effects of the external environmental dimensions proposed by Dess and Beard (1984). Thirdly, past empirical research related to TMT power has not thoroughly explored the varying dimensions of power disparities between the chief executive officer (CEO) and other TMT members. Lastly, prior research on the impact of TMT heterogeneity on firm performance has neglected the Bowman’s risk-returns paradox, focusing solely on the influence of TMT heterogeneity on return, without delving into its effects on other aspects of company performance, such as risk. Addressing these four reasons, this study formulates corresponding research hypotheses to explore the impact of TMT heterogeneity in SMEs and large enterprises on firm performance (including returns and risks), aiming to explain the reasons for the inconsistent findings in previous studies
This study examines 130 Taiwanese SMEs and 148 large enterprises in general manufacturing, high-tech, and service industries. The seemingly unrelated regression model is applied to test the research hypotheses. Furthermore, this study analyzes the influence of different contextual factors at the external environmental level (munificence, dynamism, complexity), company level (degree of internationalization), and individual level (ownership power disparity, expert power disparity, indirect power disparity between CEOs and other TMT members) on the relationship between TMT heterogeneity and firm return.
The results show that TMT heterogeneity in large enterprises enhances return while reducing risk. Consistent with literature, dynamism, munificence, and firm internationalization moderate the relationship between TMT heterogeneity and firm return in large enterprises. However, the moderating effects of industry complexity and power disparities between the CEO and TMT members across all dimensions on the relationship between TMT heterogeneity and return in large enterprises are not supported. In contrast, the impact of TMT heterogeneity on firm return in SME exists only in specific contexts. Dynamism and Munificence weaken the relationship between TMT heterogeneity and return in SMEs. Different types of CEO-TMT power disparities also exhibit variations in their moderating effects on the relationship between TMT heterogeneity and return in SME. CEO-TMT ownership power disparity strengthens the relationship between TMT heterogeneity and firm return in SME, whereas CEO-TMT expert power disparity weakens the relationship between TMT heterogeneity and firm return.
Finally, this study extensively discusses the direct and moderating effects in the proposed corporate return model with research hypotheses, as well as the direct effects in the risk model. Additionally, the study delves into the underlying causes of the moderating effects in the corporate risk model where hypotheses were not posited. Summarizing these research findings and exploring their theoretical implications, this study makes valuable contributions to the research on upper echelons in large enterprises and the interpretation of corporate risk models. Furthermore, by adopting a unique perspective centered on top management teams in small and medium-sized enterprises, this study enhances our understanding of upper echelons research and the explication of corporate risk models, offering a more comprehensive insight into relevant issues. |
| Reference: | 一、中文文獻
李揚、吳錦錩、劉怡君與劉華順 (2018)，國際化與績效之分量迴歸分
析，臺大管理論叢，28(2)，97-127頁
林玟廷、陳律睿 (2023)，「吹盡狂沙始到金，收穫成功看我行」: 探討
自戀CEO 如何營造國際版圖，組織與管理，16(1)，1-45頁
商倩鳳 (2010)，「單一事業中小企業資源拉撐與規模成長關聯性之探
索」，國立政治大學企業管理學系博士論文，台北市。 https://hdl.handle.net/11296/7whra7
二、外文文獻
Abebe, M. A., Angriawan, A., & Liu, Y. (2011). CEO power and organizational turnaround in declining firms: does environment play a role? Journal of Leadership & Organizational Studies, 18(2), 260-273.
Aldrich, H. E. (1979). Organizations and Environments. Prentice-Hall.
Andersen, T. J., Denrell, J., & Bettis, R. A. (2007). Strategic responsiveness and Bowman`s risk–return paradox. Strategic Management Journal, 28(4), 407-429.
Aragon-Correa, J. A., Matıas-Reche, F., & Senise-Barrio, M. E. (2004). Managerial discretion and corporate commitment to the natural environment. Journal of Business Research, 57(9), 964-975.
Attneave, F. (1959). Applications of information theory to psychology. Holt, Rinehart & Winston.
Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic Management Journal, 10, 107-124.
Baucus, D. A., Golec, J. H., & Cooper, J. R. (1993). Estimating risk-return relationships: An analysis of measures. Strategic Management Journal, 14(5), 387-396.
Bergh, D. D., & Lawless, M. W. (1998). Portfolio restructuring and limits to hierarchical governance: The effects of environmental uncertainty and diversification strategy. Organization Science, 9(1), 87-102.
Blau, P. M. (1977). Inequality and heterogeneity. Free Press New York.
Bloodgood, J. M., Sapienza, H. J., & Almeida, J. G. (1996). The internationalization of new high-potential US ventures: Antecedents and outcomes. Entrepreneurship theory and practice, 20(4), 61-76.
Boone, C., & Hendriks, W. (2009). Top management team diversity and firm performance: Moderators of functional-background and locus-of-control diversity. Management Science, 55(2), 165-180.
Boone, C., Van Olffen, W., Van Witteloostuijn, A., & De Brabander, B. (2004). The genesis of top management team diversity: Selective turnover among top management teams in dutch newspaper publishing, 1970-94. Academy of Management Journal, 47(5), 633-656.
Boubakri, N., Cosset, J.-C., & Saffar, W. (2013). The role of state and foreign owners in corporate risk-taking: Evidence from privatization. Journal of financial economics, 108(3), 641-658.
Bowman, E. H. (1980). A risk/return paradox for strategic management. Sloan Management Review, 21(3), 17-31.
Boyd, B. (1990). Corporate linkages and organizational environment: A test of the resource dependence model. Strategic Management Journal, 11(6), 419-430.
Boyd, B. K., & Gove, S. (2006). Managerial constraint: The intersection between organizational task environment and discretion. In D. J. Ketchen & D. D. Bergh (Eds.), Research methodology in strategy and management (Vol. 3, pp. 57-95). Emerald Group Publishing Limited.
Boyd, B. K., & Salamin, A. (2001). Strategic reward systems: A contingency model of pay system design. Strategic Management Journal, 22(8), 777-792.
Bromiley, P. (1991). Testing a causal model of corporate risk taking and performance. Academy of Management Journal, 34(1), 37-59.
Bromiley, P., & Rau, D. (2016). Social, behavioral, and cognitive influences on upper echelons during strategy process: A literature review. Journal of Management, 42(1), 174-202.
Brouthers, K. D., & Nakos, G. (2004). SME entry mode choice and performance: A transaction cost perspective. Entrepreneurship theory and practice, 28(3), 229-247.
Buckley, P. J. (1989). Foreign direct investment by small-and medium-sized enterprises: the theoretical background. Small Business Economics, 1(2), 89–100.
Bunderson, J. S., & Sutcliffe, K. M. (2002). Comparing alternative conceptualizations of functional diversity in management teams: Process and performance effects. Academy of Management Journal, 45(5), 875-893.
Busenbark, J. R., Krause, R., Boivie, S., & Graffin, S. (2016). Toward a configurational perspective on the CEO: A review and synthesis of the management literature. Journal of Management, 42(1), 234-268.
Buyl, T., Boone, C., Hendriks, W., & Matthyssens, P. (2011). Top management team functional diversity and firm performance: The moderating role of CEO characteristics. Journal of Management Studies, 48(1), 151-177.
Cannella, A. A., & Holcomb, T. R. (2005 ). A multi-level analysis of the upper-echelons model. In Multi-level issues in strategy and methods. (pp. 195–237). Emerald Group Publishing Limited.
Cannella, A. A., Park, J.-H., & Lee, H.-U. (2008). Top management team functional background diversity and firm performance: Examining the roles of team member colocation and environmental uncertainty. Academy of Management Journal, 51(4), 768-784.
Carpenter, M. A. (2002). The implications of strategy and social context for the relationship between top management team heterogeneity and firm performance. Strategic Management Journal, 23(3), 275-284.
Carpenter, M. A., & Fredrickson, J. W. (2001). Top management teams, global strategic posture, and the moderating role of uncertainty. Academy of Management Journal, 44(3), 533-545.
Carpenter, M. A., Geletkanycz, M. A., & Sanders, W. G. (2004). Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. Journal of Management, 30(6), 749-778.
Carpenter, M. A., & Golden, B. R. (1997). Perceived managerial discretion: A study of cause and effect. Strategic Management Journal, 18(3), 187-206.
Carroll, G. R. (1984). The specialist strategy. California Management Review, 26(3), 126-137.
Chang, Y., & Thomas, H. (1989). The impact of diversification strategy on risk‐return performance. Strategic Management Journal, 10(3), 271-284.
Chari, M. D. R., David, P., Duru, A., & Zhao, Y. (2019). Bowman`s risk-return paradox: An agency theory perspective. Journal of Business Research, 95, 357-375.
Chen, H. L., Hsu, W. T., & Chang, C. Y. (2014). Family ownership, institutional ownership, and internationalization of SMEs. Journal of Small Business Management, 52(4), 771-789.
Chen, M.-J., & Hambrick, D. C. (1995). Speed, stealth, and selective attack: How small firms differ from large firms in competitive behavior. Academy of Management Journal, 38(2), 453-482.
Cheng, H. L., & Yu, C. M. J. (2008). Institutional pressures and initiation of internationalization: Evidence from Taiwanese small- and medium-sized enterprises. International Business Review, 17(3), 331-348.
Cheng, Y.-M. (2008). Asset specificity, experience, capability, host government intervention, and ownership-based entry mode strategy for SMEs in international markets. International Journal of Commerce and Management, 18(3), 207-233.
Chiao, Y., Yang, K., & Yu, C. (2006). Performance, internationalization, and firm-specific advantages of SMEs in a newly-industrialized economy. Small Business Economics, 26(5), 475-492.
Chittoor, R., Aulakh, P. S., & Ray, S. (2019). Microfoundations of firm internationalization: The owner CEO effect. Global Strategy Journal, 9(1), 42-65.
Chu, W. (2009). The influence of family ownership on SME performance: evidence from public firms in Taiwan. Small Business Economics, 33(3), 353-373.
Coles, J. L., Daniel, N. D., & Naveen, L. (2006). Managerial incentives and risk-taking. Journal of financial economics, 79(2), 431-468.
Combs, J. G., Ketchen Jr, D. J., Perryman, A. A., & Donahue, M. S. (2007). The moderating effect of CEO power on the board composition–firm performance relationship. Journal of Management Studies, 44(8), 1299-1323.
Cooper, A. C., & Bruno, A. V. (1977). Success among high-technology firms. Business horizons, 20(2), 16-22.
Crossland, C., & Hambrick, D. C. (2011). Differences in managerial discretion across countries: How nation-level institutions affect the degree to which CEOs matter. Strategic Management Journal, 32(8), 797-819.
Cruz, C. C., Gómez-Mejia, L. R., & Becerra, M. (2010). Perceptions of benevolence and the design of agency contracts: CEO-TMT relationships in family firms. Academy of Management Journal, 53(1), 69-89.
Cyert, R. M., & March, J. G. (1963). A behavioral theory of the firm. Prentice-Hall.
Dess, G. G., & Beard, D. W. (1984). Dimensions of organizational task environments. Administrative Science Quarterly, 52-73.
Doutriaux, J. (1992). Emerging high-tech firms: how durable are their comparative start-up advantages? Journal of Business Venturing, 7(4), 303-322.
Dowell, G. W., Shackell, M. B., & Stuart, N. V. (2011). Boards, CEOs, and surviving a financial crisis: Evidence from the internet shakeout. Strategic Management Journal, 32(10), 1025-1045.
Dunn, P. (2004). The impact of insider power on fraudulent financial reporting. Journal of Management, 30(3), 397-412.
Eisenhardt, K. M. (1989). Making fast strategic decisions in high-velocity environments. Academy of Management Journal, 32(3), 543-576.
Eisenhardt, K. M., & Bourgeois, L. J. (1988). Politics of strategic decision making in high-velocity environments: Toward a midrange theory. Academy of Management Journal, 31(4), 737-770.
Eisenhardt, K. M., & Schoonhoven, C. B. (1990). Organizational growth: Linking founding team, strategy, environment, and growth among US semiconductor ventures, 1978-1988. Administrative Science Quarterly, 504-529.
Ferrier, W. J. (2001). Navigating the competitive landscape: The drivers and consequences of competitive aggressiveness. Academy of Management Journal, 44(4), 858-877.
Finkelstein, S. (1992). Power in top management teams: Dimensions, measurement, and validation. Academy of Management Journal, 35(3), 505-538.
Finkelstein, S., & Hambrick, D. C. (1990). Top-Management-Team Tenure and Organizational Outcomes: The Moderating Role of Managerial Discretion. Administrative Science Quarterly, 35(3), 484-503.
Finkelstein, S., & Hambrick, D. C. (1996). Strategic leadership. West St. Paul, Minn.
Finkelstein, S., Hambrick, D. C., & Cannella, A. A. (2009). Strategic leadership: Theory and research on executives, top management teams, and boards. Oxford University Press
Galbraith, J. (1973). Designing complex organizations. Addison-Wesley.
Georgakakis, D., Heyden, M. L. M., Oehmichen, J. D. R., & Ekanayake, U. I. K. (2019). Four decades of CEO–TMT interface research: A review inspired by role theory. The Leadership Quarterly, 33(3), [101354]. https://doi.org/10.1016/j.leaqua.2019.101354
George, G., Wiklund, J., & Zahra, S. A. (2005). Ownership and the Internationalization of Small Firms. Journal of Management, 31(2), 210-233.
Ghysels, E., Santa-Clara, P., & Valkanov, R. (2005). There is a risk-return trade-off after all. Journal of financial economics, 76(3), 509-548.
Griner, E. H., & Gordon, L. A. (1995). Internal cash flow, insider ownership, and capital expenditures: a test of the pecking order and managerial hypotheses. Journal of Business Finance & Accounting, 22(2), 179-199.
Grossack, I. M. (1965). Towards an integration of static and dynamic measures of industry concentration. The Review of Economics and Statistics, 301-308.
Haleblian, J., & Finkelstein, S. (1993). Top management team size, CEO dominance, and firm performance: The moderating roles of environmental turbulence and discretion. Academy of Management Journal, 36(4), 844-863.
Hambrick, D. C. (1994). Top management groups: A conceptual integration and reconsideration of "the team" label. Research in Organizational Behavior, 15, 171-214.
Hambrick, D. C. (1995). Fragmentation and the other problems CEOs have with their top management teams. California Management Review, 37(3), 110-127.
Hambrick, D. C. (2007). Upper echelons theory: An update. Academy of Management Review, 32(2), 334-343.
Hambrick, D. C., & Abrahamson, E. (1995). Assessing managerial discretion across industries: A multimethod approach. Academy of Management Journal, 38(5), 1427-1441.
Hambrick, D. C., Cho, T. S., & Chen, M.-J. (1996). The influence of top management team heterogeneity on firms` competitive moves. Administrative Science Quarterly, 41(4), 659-684.
Hambrick, D. C., & Finkelstein, S. (1987). Managerial discretion: A bridge between polar views of organizational outcomes. Research in Organizational Behavior, 9, 369-406.
Hambrick, D. C., & Mason, P. A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2), 193-206.
Hamel, G., & Prahalad, C. K. (1993). Strategy as stretch and leverage [Article]. Harvard Business Review, 71(2), 75-84.
Hannan, M. T., & Freeman, J. (1977). The population ecology of organizations. American journal of sociology, 82(5), 929-964.
Homberg, F., & Bui, H. T. M. (2013). Top management team diversity: A systematic review. Group & Organization Management, 38(4), 455-479.
Hoskisson, R. E., Chirico, F., Zyung, J., & Gambeta, E. (2017). Managerial risk taking: A multitheoretical review and future research agenda. Journal of Management, 43(1), 137-169.
Kaczmarek, S., & Ruigrok, W. (2013). In at the deep end of firm internationalization. Management International Review, 53(4), 513-534.
Kaiser, H. F. (1974). An index of factorial simplicity. Psychometrika, 39(1), 31-36.
Karagozoglu, N., & Lindell, M. (1998). Internationalization of small and medium-sized technology-based firms: An exploratory study. Journal of Small Business Management, 36(1), 44-59.
Keats, B. W., & Hitt, M. A. (1988). A causal model of linkages among environmental dimensions, macro organizational characteristics, and performance. Academy of Management Journal, 31(3), 570-598.
Keck, S. L. (1997). Top management team structure: Differential effects by environmental context. Organization Science, 8(2), 143-156.
Kim, C. W., Hwang, P., & Burgers, W. P. (1993). Multinationals` diversification and the risk‐return trade‐off. Strategic Management Journal, 14(4), 275-286.
Kmenta, J. (1997). Elements of econometrics (2nd. ed.). University of Michigan Press.
Kor, Y. Y. (2003). Experience-based top management team competence and sustained growth. Organization Science, 14(6), 707-719.
Krause, R., Priem, R., & Love, L. (2015). Who`s in charge here? Co-CEOs, power gaps, and firm performance. Strategic Management Journal, 36(13), 2099-2110. https://doi.org/https://doi.org/10.1002/smj.2325
Krause, R., Semadeni, M., & Cannella Jr, A. A. (2014). CEO duality: A review and research agenda. Journal of Management, 40(1), 256-286.
Laufs, K., & Schwens, C. (2014). Foreign market entry mode choice of small and medium-sized enterprises: A systematic review and future research agenda. International Business Review, 23(6), 1109-1126.
Lawrence, B. S. (1997). The black box of organizational demography. Organization Science, 8(1), 1-22.
Lewellyn, K. B., & Muller‐Kahle, M. I. (2012). CEO power and risk taking: Evidence from the subprime lending industry. Corporate Governance: An International Review, 20(3), 289-307.
Li, J., & Hambrick, D. C. (2005). Factional groups: A new vantage on demographic faultlines, conflict, and disintegration in work teams. Academy of Management Journal, 48(5), 794-813.
Li, M., & Jones, C. D. (2019). The effects of TMT faultlines and CEO-TMT power disparity on competitive behavior and firm performance. Group & Organization Management, 44(5), 874-914.
Li, X., & Vermeulen, F. (2021). High risk, low return (and vice versa): The effect of product innovation on firm performance in a transition economy. Academy of Management Journal, 64(5), 1383-1418.
Lu, J. W., & Beamish, P. W. (2001). The Internationalization and Performance of SMEs. Strategic Management Journal, 22(6/7), 565.
Lubatkin, M. H., Simsek, Z., Ling, Y., & Veiga, J. F. (2006). Ambidexterity and performance in small-to medium-sized firms: The pivotal role of top management team behavioral integration. Journal of Management, 32(5), 646-672.
Magnan, M. L., & St. Onge, S. (1997). Bank performance and executive compensation: a managerial discretion perspective. Strategic Management Journal, 18(7), 573-581.
Messeghem, K. (2003). Strategic entrepreneurship and managerial activities in SMEs. International Small Business Journal, 21(2), 197-212.
Michel, J. G., & Hambrick, D. C. (1992). Diversification posture and top management team characteristics. Academy of Management Journal, 35(1), 9-37.
Miller, K. D., & Leiblein, M. J. (1996). Corporate risk-return relations: Returns variability versus downside risk. Academy of Management Journal, 39(1), 91-122.
Murray, A. I. (1989). Top management group heterogeneity and firm performance. Strategic Management Journal, 10, 125-141.
Nakano, M., & Nguyen, P. (2012). Board size and corporate risk taking: Further evidence from Japan. Corporate Governance: An International Review, 20(4), 369-387.
Neely Jr, B. H., Lovelace, J. B., Cowen, A. P., & Hiller, N. J. (2020). Metacritiques of upper echelons theory: Verdicts and recommendations for future research. Journal of Management, 46(6), 1029-1062.
Nielsen, B. B., & Nielsen, S. (2013). Top management team nationality diversity and firm performance: A multilevel study. Strategic Management Journal, 34(3), 373-382.
Nielsen, S. (2010a). Top management team diversity: A review of theories and methodologies. International Journal of Management Reviews, 12(3), 301-316.
Nielsen, S. (2010b). Top management team internationalization and firm performance. Management International Review, 50(2), 185-206.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric theory (3rd ed.). McGraw–Hill.
Pagell, M., & Krause, D. R. (2004). Re-exploring the relationship between flexibility and the external environment. Journal of Operations Management, 21(6), 629-649.
Palmer, T. B., & Wiseman, R. M. (1999). Decoupling risk taking from income stream uncertainty: A holistic model of risk. Strategic Management Journal, 20(11), 1037-1062.
Patel, P. C., & Cooper, D. (2014). Structural power equality between family and non-family TMT members and the performance of family firms. Academy of Management Journal, 57(6), 1624-1649.
Penrose, E. T. (1959). The theory of the growth of the firm. Oxford University Press
Percy, D. F. (1992). Prediction for seemingly unrelated regressions. Journal of the Royal Statistical Society: Series B (Methodological), 54(1), 243-252.
Perry, R. H., Charlotte, B., Isabella, M., & Bob, C. (2004). SPSS explained. Routledge.
Pfeffer, J. (1983). Organizational demography. Research in Organizational Behavior, 5, 299-357.
Pfeffer, J., & Salancik, G. (1978). A resource dependence perspective. In Intercorporate relations: The structural analysis of business. Cambridge University Press.
Porter, M. (1980). Competitive strategy: Techniques for analysis industry and competitors. The Free Press.
Quigley, T. J., & Hambrick, D. C. (2015). Has the `CEO effect` increased in recent decades? A new explanation for the great rise in America`s attention to corporate leaders. Strategic Management Journal, 36(6), 821-830.
Rajagopalan, N., & Finkelstein, S. (1992). Effects of strategic orientation and environmental change on senior management reward systems. Strategic Management Journal, 13(S1), 127-141.
Ridge, J. W., Aime, F., & White, M. A. (2015). When much more of a difference makes a difference: Social comparison and tournaments in the CEO`s top team. Strategic Management Journal, 36(4), 618-636.
Roh, H., Chun, K., Ryou, Y., & Son, J. (2019). Opening the black box: A meta-analytic examination of the effects of top management team diversity on emergent team processes and multilevel contextual influence. Group & Organization Management, 44(1), 112-164.
Sambharya, R. B. (1996). Foreign experience of top management teams and international diversification strategies of US multinational corporations. Strategic Management Journal, 17(9), 739-746.
Sanders, W. M. G., & Carpenter, M. A. (1998). Internationalization and firm governance: the roles of ceo compensation, top team composition, and board structure. Academy of Management Journal, 41(2), 158-178.
Sharfman, M. P., & Dean Jr, J. W. (1991a). Conceptualizing and measuring the organizational environment: A multidimensional approach. Journal of Management, 17(4), 681-700.
Sharfman, M. P., & Dean Jr, J. W. (1991b). Dimensions and constructs: A response to Dess and Rasheed. Journal of Management, 17(4), 711-715.
Sheikh, S. (2019). CEO power and corporate risk: The impact of market competition and corporate governance. Corporate Governance: An International Review, 27(5), 358-377.
Smith, K. G., Smith, K. A., Sims Jr, H. P., O`Bannon, D. P., Scully, J. A., & Olian, J. D. (1994). Top management team demography and process: The role of social integration and communication. Administrative Science Quarterly, 39(3), 412-438.
Sullivan, D. (1994). Measuring the degree of internationalization of a firm. Journal of International Business Studies, 25(2), 325-342.
Tajfel, H. (1981). Human groups and social categories. Cambridge University Press.
Tang, J., Crossan, M., & Rowe, W. G. (2011). Dominant CEO, deviant strategy, and extreme performance: The moderating role of a powerful board. Journal of Management Studies, 48(7), 1479-1503.
Tanikawa, T., & Jung, Y. (2018). CEO power and top management team tenure diversity: Implications for firm performance. Journal of Leadership & Organizational Studies, 26(2), 256-272.
Tihanyi, L., Ellstrand, A. E., Daily, C. M., & Dalton, D. R. (2000). Composition of the top management team and firm international diversification. Journal of Management, 26(6), 1157-1177.
West, J. C. T., & Schwenk, C. R. (1996). Top management team strategic consensus, demographic homogeneity and firm performance: a report of resounding nonfindings. Strategic Management Journal, 17(7), 571-576.
White, J. V., & Borgholthaus, C. J. (2022). Who’s in charge here? A bibliometric analysis of upper echelons research. Journal of Business Research, 139, 1012-1025.
Wiersema, M. F., & Bantel, K. A. (1992). Top management team demography and corporate strategic change. The Academy of Management Journal, 35(1), 91-121.
Wiersema, M. F., & Bantel, K. A. (1993). Top management team turnover as an adaptation mechanism: the role of the environment. Strategic Management Journal, 14(7), 485-504.
Williams, K., & O`Reilly, C. (1998). Demography and diversity in organizations: A review of 40 years of research. . In B. M. S. L. L. Cummings (Ed.), Research in Organizational Behavior (Vol. 20, pp. 77-140). JAI Press.
Wolff, J. A., & Pett, T. L. (2000). Internationalization of small firms: An examination of export. Journal of Small Business Management, 38(2), 34.
Wright, P., Kroll, M., Krug, J. A., & Pettus, M. (2007). Influences of top management team incentives on firm risk taking. Strategic Management Journal, 28(1), 81-89.
Zellner, A. (1962). An efficient method of estimating seemingly unrelated regressions and tests for aggregation bias. Journal of the American Statistical Association, 57(298), 348-368. |
| Description: | 博士
國立政治大學
企業管理學系
102355501 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0102355501 |
| Data Type: | thesis |
| Appears in Collections: | [企業管理學系] 學位論文
|
Files in This Item:
| File |
Size | Format | |
|---|
| index.html | 0Kb | HTML2 | 78 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|
